U.S. home sales pick up but not enough to clear inventory

The number of unsold single-family homes, townhouses and condominiums in the U.S. climbed in April to 3.97 million, the highest level since November, the National Association of Realtors reported. Nationally, sales of existing homes rose 2.9% last month, an increase from March but a 3.5% drop from April 2008.